Three new calls under the Development Law 4887/2022 have been activated, with grants reaching up to 75% for small businesses, providing the impetus for submitting investment projects in critical sectors of the economy.
Development Law: Which applications opened – Up to 75% funding for small businesses
Specifically, as stated in an informational note from the EU funding consulting firm anodos consulting, the new schemes concern “Manufacturing – Supply Chain” (3rd cycle), “Special Support Areas” (1st cycle) and the newly established framework for “Large Investments”.
Applications are submitted until October 10, 2025, following an extension that was granted, as the deadline was initially set for September. As anodos notes, the announcement of these actions comes at a time when the business community was awaiting the activation of the Law, while the tightening of criteria aims to support mature and viable investments.
Manufacturing – Supply Chain (3rd cycle)
No significant changes have occurred compared to previous cycles. The minimum investment amount for very small businesses remains at €100,000, while the funding rate is up to 75%, depending on the region and business size.
Special Support Areas (1st Cycle)
This is a new call concerning investments in specific areas of the country, such as Lesbos, Chios, Evros, the Dodecanese and delignitization areas in Megalopolis and Kozani. The minimum investment amount is €2 million, indicating that it targets larger projects for the development of less developed regions. Investments in primary agricultural production, fishing and aquaculture are excluded. In the tourism sector, only investments implemented in specific areas of the Aegean islands are eligible.
Large investments – New scheme
The call for large investments targets projects over €15 million. The scheme focuses on investments with significant developmental impact on local communities. Investments in agri-food, tourism and alternative forms of tourism are excluded. Here too, the funding rate can reach up to 75% for small businesses.
New evaluation criteria
According to anodos consulting, the most significant change in the new calls concerns the evaluation criteria. The maturity of the investment project (e.g. permits) is a basic prerequisite for submission. This tightening is considered reasonable, as it prevents submissions from immature projects. However, it requires more preparation time and this should be taken into account by the Ministry. Additionally, documentation of private participation is no longer scored but is mandatory for file acceptance.
The financial indicators related to the company’s economic performance and employment are maintained with minor modifications, while the export orientation index is also introduced, giving a scoring advantage to export companies.
Assessment and prospects
As the EU funding consulting firm notes, the two new calls combined with the next cycle of Manufacturing provide significant impetus to entrepreneurship and the shift towards larger and more studied investments. The grants can be effectively utilized by investors with mature projects and sound financial data. The challenge is finding the necessary resources for implementing already approved projects from previous announcements, as it is noted that despite the existence of mature investment projects pending approval, securing funding is delayed.
Source: ANA-MPA
